Limited Liability Companies have a new, more flexible legal framework that is in line with international patterns.
Rubén Bustamante, a specialist in tax law, explained the new regulations to La Prensa of Panama, highlighting the differences with the previous version: "These companies can now use a different name than that of the partners, engage in civil and commercial activities, be formed by more than 20 partners and a minimum of two, and they may have both individuals and legal entities as members. The amount of social capital which was previously limited to $500 thousand has no limits now."